JFTC Raids Suspected Price-Fixing Steel Companies

Law360, New York (January 24, 2008, 12:00 AM EST) -- A Japanese newspaper is reporting that the country's Fair Trade Commission has raided a handful of steel companies amid fears that the group is engaging in a conspiracy to fix the prices of galvanized steel sheets.

On Thursday, antitrust regulators purportedly barged into the offices of Nippon Steel & Sumikin Coated Sheet, Nisshin Steel Co., Yodogawa Steel Works Ltd. and JFE Galvanizing & Coating Ltd. looking for evidence of possible cartel activity, Jiji Press reported.

Investigators believe that the quartet held secret meetings throughout 2006 and...
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